Financial transactions generally require the cooperative assistance of many individuals and entities. For example, a typical real estate transaction may involve a buyer, a seller, a realtor, a mortgagor, and a title company. For the purpose of completing the transaction, many of these or other individuals may produce transaction-related documents relevant to that individual's role in the transaction. In the case of a real estate transaction, for example, a realtor may generate a buyer-seller's contract, a mortgagor may generate mortgage documents, and title company may generate a Deed of Title.
The documents related to a transaction may be managed by a Transaction Management System (TMS). The TMS may maintain and store documents related to a transaction in a file that is associated with the particular transaction. Where the TMS is an Internet-based system, the TMS may make it possible for the parties and entities involved in the transaction to manage and view digital versions of the documents online. In a real estate context, certain parties having an interest in a real estate transaction may review documents online prior to or after a closing of the transaction. For example, a real estate agent may be required to review documents to determine that necessary signatures have been obtained or to determine that the documents are complete. Because a realtor may be required to physically alter the document to indicate that it has been reviewed and approved, the realtor may be required to print out physical copies of the documents so that they can be manually reviewed and marked. Even where the documents can be viewed electronically, current document management systems are inefficient requiring extensive user interactions and individualized document downloading.